Kingdee Intl Software Gr Stock (OTC: KGDEY)

Latest news for Kingdee Intl Software Gr (OTC:KGDEY) Stock

Kingdee Intl Software Gr

KINGDEE INTL SOFTWAR

Kingdee International Software Group Co Ltd is engaged in cloud services, including enterprise cloud services, small & micro business finance cloud services, and industry cloud services; and enterprise resource planning business, including development and sales of software products. it has three operating segments; Cloud services business Including enterprise cloud services, small & micro business finance cloud services, and industry cloud services, ERP business and others including sales of software and hardware products, provision of software implementation, software solution consulting, maintenance, upgrade and other supporting services, and others, and Investment Properties operating business include the Operation of investment properties.

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KINGDEE INTL SFTW UNS/ADR by Kingdee International Software Group Co., Ltd

Kingdee International Software Group Co Ltd

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Kingdee International Software Group Company Limited (OTC: <a class="ticker" href="/stock/kgdey#OTC">KGDEY</a>) and JD.com, Inc. (Nasdaq: <a class="ticker" href="/stock/jd#Nasdaq">JD</a>) today jointly announced that they have entered into a definitive agreement, under which JD.com will invest HK$1.3 billion (approximately US$170 million) in cash in consideration for an approximately 10% stake in Kingdee. In addition, Kingdee and JD.com plan to enter a strategic partnership under which they will collaborate on providing small and medium-sized enterprises with integrated ERP solutions through a cloud service.

The purchase price will be HK$4.60 per share, representing the average closing price of Kingdee's shares for the 15 trading days prior to the signing of the agreement. 

"We are delighted to be partnering with JD.com, which has developed industry-leading proprietary e-commerce and logistics technologies," said Shaochun Xu, Kingdee Chairman and CEO. "This is a key milestone in Kingdee's development history. We will take this opportunity to leverage both companies' large customer and user bases, accelerate the development of Kingdee's cloud offering and expand our one-stop shop cloud services. Collaboration with JD.com will further allow Kingdee to take our enterprise solutions to

    <a href="http://www.benzinga.com/pressreleases/15/05/n5517433/kingdee-announces-strategic-investment-from-jd-com">See full press release</a>

Press Releases

JD.com to Invest $171M in Kingdee for ~10% Stake

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